SH Corporation Leads 'K-Smart City' with KIND

[Asia Economy Reporter Kim Yuri] Seoul Housing and Communities Corporation (SH Corporation) announced on the 10th that it signed a Memorandum of Understanding (MOU) with Korea Overseas Infrastructure & Urban Development Corporation (KIND) on the 9th to mutually cooperate for entering the overseas smart city market.

Under this MOU, the two organizations will collaborate to actively promote consulting and investment in promising overseas smart city development projects by utilizing their experience in smart cities and urban development as well as advanced financial techniques.

To revitalize overseas projects, the two institutions will share information, technology, personnel, and networks related to smart city and urban development projects that each possesses. SH Corporation will support policies, implementation experience, and expert personnel related to the construction and operation of Seoul’s smart city, while KIND will provide commercialization and financial support to enable joint entry with SH Corporation into promising overseas smart city and urban development projects. The essence of this MOU is to create synergy by combining SH Corporation’s extensive experience as a public developer in numerous urban development and smart city projects with KIND’s comprehensive services in overseas infrastructure and urban development projects.

They also plan to participate in activating public-private joint entry into K-Smart City projects. To discover and secure overseas smart city projects, the two organizations plan to support domestic and international private companies promoting smart cities by arranging visits to Seoul city and SH Corporation project sites and operational facilities, providing promotional support, and hosting domestic and international events.

KIND established a dedicated support department for high value-added convergence projects in February 2019 as part of the 'Measures to Revitalize Overseas Orders' jointly announced by related ministries, and is expanding cooperation with central government ministries and public enterprises through this dedicated organization. Through this MOU with KIND, SH Corporation expects to demonstrate a whole-of-government synergy involving central government and local government public institutions in the overseas smart city sector.

Kim Seyong, President of SH Corporation, said, "The fusion of KIND’s overseas project development and investment-related information with SH Corporation’s urban development and smart city project execution capabilities is expected to elevate the competitiveness of K-Smart City to the next level," adding, "We also look forward to linked cooperation such as joint investment and development projects in overseas urban development and smart city fields with KIND in the future."

This content was produced with the assistance of AI translation services.